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3Q25 E VE U PDAT E N O V E M B E R 4 , 2 0 2 5
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This information belongs to Eve and cannot be used or reproduced without written permission from the Company. 2 LATEST PRODUCT DEVELOPMENT ACHIEVEMENTS Full-Scale Prototype 1st Flight shortly • Prototype successful ground/communication/integration tests • Pusher motor being tested and installed • Lifter motors being tested and installed Iron Bird operational (Ground Prototype) • Iron Bird tests combine actual aircraft hardware & software • Allow certification ground tests, reduces flight campaign • Proven development method used in previous Embraer programs Embraer selected to supply landing gear • Flexibility for customers (vs. skids) • Strong track record in landing gear manufacturing • Potentially enhances energy efficiency of aircraft
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This information belongs to Eve and cannot be used or reproduced without written permission from the Company. 3 Prototype getting ready at Embraer test facility to initiate flight campaign FULL-SCALE PROTOTYPE 1st FLIGHT SHORTL Y
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This information belongs to Eve and cannot be used or reproduced without written permission from the Company. 4 Greater energy efficiency with ground taxi vs. hover Increased operating flexibility for limited Ground Support Equipment (GSE) & time Minimizes GSE requirements at outstations Reduces Turnaround Time (TAT) at slot-constrained, large vertiports Available as standard item at Entry into Service (EIS) EMBRAER SELECTED TO SUPPL Y LANDING GEAR
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This information belongs to Eve and cannot be used or reproduced without written permission from the Company. IRON BIRD OPERATIONAL (GROUND PROTOTYPE) This information belongs to Eve and cannot be used or reproduced without written permission from the Company. 5 De-constructed eVTOL • Flight simulator with all eVTOL hardware (motors, batteries, inverters, actuators, etc.) in the loop • Built with exact specifications of actual aircraft • Tests components individually and as part of an integrated system with fly-by-wire Expedites certification campaign, reduces costs Valuable information of aircraft/component behavior, with after-market applications
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This information belongs to Eve and cannot be used or reproduced without written permission from the Company. This information belongs to Eve and cannot be used or reproduced without written permission from the Company. 6 Investors & Media meetings at NYSE ICAO (International Civil Aviation Organization )Assembly in Canada to discuss UAM regulations Eve and InvestSPsummit to implement Brazil’s commercial eVTOL operations AIRTAXI World Congress 2025 in London focused on advanced air mobility Landmark framework agreement with Bahrain to launch eVTOL operations in the region ECOSYSTEM, REGULATORS AND CUSTOMERS ENGAGEMENT
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This information belongs to Eve and cannot be used or reproduced without written permission from the Company. Helping our customers operate efficiently and profitably Eve's unique Urban Air Traffic Management software solution Complete solution for eVTOLs 21 Customers and partners in 10 countries14 Customers and partners in 8 countries Designed to ensure safety, accessibility, and comfort The ultimate all-in-one service portfolio for eVTOLs 28 Customers in 9 countries Eve VectorEve eVTOL Eve TechCare ~2,800 Pre-ordered eVTOLs Firm + LOIs Based on current List Price~$14B Pre-order book value This information belongs to Eve and cannot be used or reproduced without written permission from the Company. eVTOL, SERVICES & VECTOR CUSTOMERS 7
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This information belongs to Eve and cannot be used or reproduced without written permission from the Company. CASH POSITION FOLLOWING EQUITY OFFER 8 * Assuming cash burn of ~$200mn / year Equity capital raise of $230 million Liquidity enough for ~2.5 years* Dual listing in the US and Brazil Trading liquidity >$7mn/day (vs.~$1mn/day before) Institutional Investors Anchor Investors 30+ U.S. and Brazil 412 106 17 3Q25 Cash Available BNDES credit lines FINEP Grant $534 Million $534 million
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This information belongs to Eve and cannot be used or reproduced without written permission from the Company. FINANCIAL PERFORMANCE This information belongs to Eve and cannot be used or reproduced without written permission from the Company. 9 USD millions 3Q25 3Q24 9M25 9M24 INCOME STATEMENT Research & Development (R&D) (44.9) (32.4) (135.3) (96.2) Selling, General & Administrative (SG&A) (7.0) (8.4) (23.1) (20.3) Change in fair value of derivative liabilities 6.4 4.0 0.3 12.4 Interest Income / Other Non-Operating Expenses, net (0.2) 1.5 (1.1) 8.1 Net Earnings / (Loss) (46.9) (35.8) (160.3) (97.5) CASH FLOW Net Cash Used in Operating Activities (54.0) (30.7) (134.5) (97.3) Net Additions to PP&E (6.7) (3.2) (8.5) (4.0) Free Cash Flow* (60.7) (34.0) (143.0) (101.3) Net Cash Provided by Financing Activities 229.9 108.8 250.3 137.8 0 0 BALANCE SHEET Other Assets 28.0 9.7 Total Payables 80.8 56.0 Cash, Cash Equivalents, Fin. Investments and Rel. Party Loan Receivable (Beg. of period) 303.4 241.1 Cash, Cash Equivalents, Fin. Investments and Rel. Party Loan Receivable (End of period) 411.7 279.8 Total Debt 168.1 68.3 Total liquidity including BNDES Standby Facility, and grant** 534.3 305.2 Notes * Free Cash Flow is a non-GAAP measure and includes Net Cash Used in Operating Activities, Net Additions to PP&E ** Total Liquidity is a non-GAAP measure and includes Cash, Cash Equivalents, Financial Investments, Related Party Loan Receivable and undrawn BNDES standby facility
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This information belongs to Eve and cannot be used or reproduced without written permission from the Company. 2025 MILESTONES TO BE ACHIEVED This information belongs to Eve and cannot be used or reproduced without written permission from the Company. 10 FULL-SCALE PROTOTYPE 1ST FLIGHT AND START OF FLIGHT TESTS ALIGNMENT OF DETAILED CERTIFICATION PLAN WITH ANAC (BRAZIL) AND FAA (US) INITIAL PRODUCTION OF CERTIFICATION PROTOTYPE PREPARATION OF eVTOL MANUFACTURING AND TESTING FACILITIES 2025 TOTAL CASH CONSUMPTION BETWEEN US$200-250 MILLION1 On track On track On track On track END 2025 / EARLY 2026
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